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DYNA-MAC HOLDINGS LTD.
2016 ANNUAL REPORT
94
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2016
24.
BORROWINGS
(CONT’D)
The exposure of bank borrowings of the Group to interest rate changes and the contractual repricing dates
at the balance sheet date are as follows:
Group
2016
2015
$’000
$’000
6 months or less
35,000
34,191
Bank borrowings are secured by deeds of guarantee and indemnity from the Company. The weighted average
effective interest rate on bank borrowings at balance sheet date is 2.27% (2015: 2.44%) per annum.
25.
FINANCE LEASE LIABILITIES
The Group leases motor vehicles and certain site equipment and tools from non-related parties under finance
leases. Lease terms range from 1 to 5 years with options to purchase at the end of the lease term.
The liabilities are secured on property, plant and equipment acquired under finance lease contracts (Note 19).
Group
2016
2015
$’000
$’000
Minimum lease payments due
– Not later than one year
48
48
– Between one and five years
101
149
149
197
Less: Future finance charges
(11)
(18)
Present value of finance lease liabilities
138
179
The present values of finance lease liabilities are analysed as follows:
Group
2016
2015
$’000
$’000
– Not later than one year (Note 24)
42
40
– Between one and five years (Note 24)
96
139
138
179